On tomorrow’s ballot statewide in New York are two not-well publicized Proposals cleverly titled: “Proposition 1” and “Proposition 2”. They have very little to do with each other; but separately and together they will definitely have a significant impact on our state’s economy for years to come.
As in every election, voters should educate themselves before going to the ballot box. These two items on tomorrow’s ballot have gotten little media attention but are definitely worth taking 10 minutes to check out.
Proposition 1 has to do with changing or altering procedural arrangements in the New York State fiscal budgeting process. The net result of which if passed potentially could increase budgeting power to the State Legislature, en masse. To read an unbiased explanation of this issue please go to: www.rockinst.org.
Proposition 2 is for voter approval for the State of New York to raise $2.9 Billion in debt to finance transportation related projects throughout the state. More than 60% of the projects are mass transportation related. About $118 Million of the total amount is currently earmarked for the Westchester, Putnam, and Rockland areas. For a list of the proposed projects covered under the Proposal please go to: www.dot.state.ny.us .
In the end, whether for either or against either the money these politicians control comes out of our pockets. Fiscal responsibility at every level of government is needed now more than ever before. A rising interest rate environment coupled with the fiscal insanity that currently reigns in our nation’s capitol are a potent cocktail to be sure.
Just as CEOs are held accountable for their shareholders’ funds; we too should do the same for all politicians. I fear that many politicians would be fired if heading up publicly traded companies. Remember your wallet when you are voting!